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FR1   Responsible Financial Officer (RFO)

The Clerk shall be the Responsible Financial Officer of the Council and shall maintain the Council’s accounts as prescribed by the Accounts and Audit   Regulations 1996. The Council may, if considered necessary, appoint an RFO other than the Clerk.

         

FR2   Expenditure

The Clerk shall have power to spend money/commit expenditure up to the following limits under these budget headings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Mayor shall have power to spend money/commit expenditure as shown above.

Payment of all other monies shall be authorised by Resolution of the Council. Such resolutions on expenditure can only be considered when included as an Agenda item of the meeting considering the expenditure.

 

FR3   Signing of cheques

Cheques in payment of accounts due shall be signed by any one of three authorised members of the Council. The counterfoil of the cheque and the invoice shall be initialled as confirmation of the validity and the amount. Cheques are to be signed at the meeting at which the payment is approved. A majority Council approval is to be agreed before payment is made.

 

FR3.1 Direct Payments(D.P.)

          Direct Payments(D.P.) are to be presented for approval and to be authorised  by members of

          the Council.

The D.Ps. are to be initialled as confirmation of validity and amount. The bank statement will be presented at each Council meeting to be scrutinised for accuracy.

Details of the secret codes are held with the Chairman of the Council and are only to be accessed in an emergency. If the envelope is tampered with the codes must be reset by the clerk.

 

FR4   Authorised Members for signing cheques

          A minimum of two members shall be authorised by Resolution of the Council to

          sign cheques on behalf of the Council, but only one signature will be required.

 

FR5   Accounts and Financial Statements

The Clerk shall supply to each member at every meeting a financial statement comprising details of the budgeted figures of expenditure and income for the current financial year, the payments made and income received in the current year to the end of the previous month. At 3 monthy intervals that Statement will also include a reconciliation of expenditure and income with the various bank balances.

 

FR6   Bank Accounts

The Council shall maintain a current account and, in addition, the Council may maintain deposit account as it deems necessary.

 

FR7   Inspection of Accounts

The Accounts must be made available for inspection by the public for 15 days prior to the audit by prior appointment with the Clerk. The Accounts are to be available for inspection by Councillors and members of the Public at all times by prior appointment with the Clerk.

 

FR8   Insurance

The Council shall maintain insurance cover for the risks it considers appropriate but shall, as a minimum, cover for Public Liability, Money and Fidelity Guarantees.

 

FR9   Internal Audit

Internal audit shall be carried out by the Audit Committee comprising of the Mayor, Deputy Mayor and two other members of the Council - the Audit to be carried out not less than 4 times per financial year. The outcome of the Audit to be reported to The Council at the next ordinary meeting and recorded in the Minutes.

         

 

Financial Regulations reviewed at a meeting of Tickhill Town Council held 8th March 2016

 

 

Chairman ………………………………………. 

 

Responsible Financial Officer ……………………………………..

 

 

Dated……………………………………………………

 

TICKHILL TOWN COUNCIL - FINANCIAL REGULATIONS

March 2016

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Budget Head

Limit of Expenditure without prior authorisation of Council*

Expenditure by

Photocopying/Stamps/Administration

£250

Clerk Only

Courses

£100

Clerk Only

Christmas

£300 - Limited to purchase of Christmas tree

Clerk Only

Mayors Allowance

£350 for Mayor’s reception

£150 for other individual items

Clerk or Mayor

Clerk or Mayor

Contingencies

£1000 for emergency repair works only

£200 general supplies

Clerk

Pavilion repairs/renewals

£500 emergency repairs only

Clerk

Pavilion cleaning materials

£250

Clerk

Up keep of litter picker supplies

£100

Clerk/Mayor/Litter Picker